Friday, September 7, 2012

Bluest of Blue Loves PEU's

President Bill Clinton defended private equity underwriters (PEU's) on Bloomberg TV.  Note the interviewer never broached Clinton's prior role with Ron Burkle's Yucaipa Funds.  Clinton does mention his good friend in the "equity business."  That friend paid Clinton big money to advise Yucaipa. 

Clinton's IRS turned its head on PEU's waving their wand, turning investment fees into carried interest.  Rising Democratic star Corey Booker believes in PEU's, as well.  Red and Blue love PEU's, especially the titular head of the Democratic Party.

With all the talk about a clear choice in this Presidential campaign, the competition is for the right to spend trillions in federal money in ways that benefits friends and supporters.  It's also about hegemony.

PEU's boys win either way.